Hennessy Advisors Inc. Sells 25,400 Shares of Astronics Corporation $ATRO

Key Points

• Hennessy Advisors sold 25,400 shares of Astronics, trimming its stake by 6.1% to 390,900 shares (about 1.10% of the company) valued at roughly $21.2 million.
• Other institutions mostly added to positions—most notably Millennium Management, which raised its stake 80.1% to 746,956 shares—and institutional investors now own 56.68% of Astronics.
• Analysts have a consensus "Buy" rating with an average price target of $77.33 (Truist raised its target to $107), and Astronics recently beat quarterly EPS estimates ($0.75 vs. $0.63) with revenue up 15.1% year‑over‑year.

Hennessy Advisors Inc. decreased its position in Astronics Corporation (NASDAQ:ATRO - Free Report) by 6.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 390,900 shares of the aerospace company's stock after selling 25,400 shares during the period. Hennessy Advisors Inc. owned about 1.10% of Astronics worth $21,202,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ATRO. AQR Capital Management LLC lifted its stake in Astronics by 20.4% in the 1st quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company's stock valued at $2,712,000 after acquiring an additional 18,975 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Astronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company's stock valued at $423,000 after acquiring an additional 1,069 shares in the last quarter. Millennium Management LLC lifted its stake in Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company's stock valued at $18,054,000 after acquiring an additional 332,133 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Astronics by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company's stock valued at $5,377,000 after acquiring an additional 46,054 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Astronics by 22.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company's stock valued at $1,735,000 after acquiring an additional 13,104 shares in the last quarter. Institutional investors own 56.68% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on ATRO. Wall Street Zen upgraded Astronics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 28th. Craig Hallum reiterated a "buy" rating on shares of Astronics in a research note on Friday, January 9th. Zacks Research upgraded Astronics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Astronics in a research report on Wednesday, January 21st. Finally, Truist Financial increased their price objective on Astronics from $75.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $77.33.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $76.97 on Monday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10. Astronics Corporation has a 52 week low of $19.89 and a 52 week high of $83.96. The stock has a market capitalization of $2.75 billion, a P/E ratio of 99.96 and a beta of 1.11. The stock's fifty day moving average is $73.17 and its 200 day moving average is $62.41.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. During the same period last year, the firm posted $0.46 earnings per share. Astronics's revenue was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Astronics Company Profile

Astronics Corporation NASDAQ: ATRO is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company's aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.

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